Verify accounts - Inheritance taken me over £16000

fairs333
fairs333 Community member Posts: 4 Listener
edited November 15 in Universal Credit (UC)

Hi, I have been given inheritance that has taken me over £16000! I reported this on the day it went into my bank account on the journal and saving to universal credit. This has triggered an appointment to see bank statements and what I have spent the money on.


I have taken all information in but have not declared my 13 year olds bank account that I hold in trust for, it gets child benefit and maintenance paid in and I transfer it over to my account, to live and care for my teenager I don’t have any savings. If they question this I can show them but I didn’t think I had to as it’s my sons account but I’m not sure. I really am worried as it never occurred to me they might wonder about the account that money is coming from even though it’s child maintenance and child benefit! I feel sick and don’t want to get in trouble

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Comments

  • Rachel_Scope
    Rachel_Scope Posts: 1,653 Scope Online Community Coordinator

    Hi @fairs333. I found this information on the government website:

    Money, savings and investments that belong to your children, and are in their name, are not taken into account when assessing your Universal Credit. For example, you do not need to tell us about children’s savings accounts in their name such as Junior ISAs and Child Trust Funds.

    If you've declared your own bank accounts then you should be fine. I understand your worries as I would be the same! You seem to have done the right thing by declaring the inheritance straightaway 😊

  • fairs333
    fairs333 Community member Posts: 4 Listener

    thank you so much for your reply. Universal credit can also check my son’s account if needed I just don’t want to do anything wrong.

  • Emilee
    Emilee Community member Posts: 235 Empowering

    It is important to be aware that you are the legal beneficial owner of both child benefit and child maintenance, not your child, regardless of whose bank account you have it paid in to. If you have saved both of these up, even if it is in your son's account, it can be considered your savings.

  • fairs333
    fairs333 Community member Posts: 4 Listener

    Thank you, I appreciate that information, I never have the chance to save it, always something that my boy is needing!! Clothes shoes and FOOD 😂 activities.

  • worried33
    worried33 Community member Posts: 574 Pioneering

    Hi, I hope this puts you at ease.

    In all my time on means tested benefits, I have twice had to supply bank statements, I think both were as a precaution.

    The first occasion is when I informed the council I had received circa £6000 from the DWP as a back payment following a tribunal. I wasnt aware of the law at the time that it was exempt for 12 months. They immediately suspended my housing benefit and told me to bring in proof of the payment, and also bank statements, within a few weeks I was reinstated with no deductions.

    The second occasion linked to the same payment, the DWP were involved in a dispute, and ended up decided to back date missing payments to IB to ESA migrants related to EDP. I was asked to confirm my financial status and if my account had ever exceeded £6000, I reported it did when the DWP back payment hit the account. The response was I had to send in 6 years of bank statements which was a bit of a hassle, but the end result was full payment of the arrears with no deductions.

    So just do what they ask and I think you will be ok. If they decide you due deductions, then it will happen, but I dont think there will be anything against you in terms of honesty.

  • Catherine21
    Catherine21 Posts: 2,647 Championing
    https://forum.scope.org.uk/discussion/comment/941137#Comment_941137

    I recieved back payment March from dwp it was just under 6 grand by 200 so it's disregarded for one year correct also I had a big payment 2019 will they ask for that much bank statements I mean esa did write after a year later request bank statements and was fine so I'm having a benefit review and showed them the statements when in came into my account and that it was from pip all this worry for everyone because generally clueless about everything

  • Catherine21
    Catherine21 Posts: 2,647 Championing

    Sorry statements I showed was from pip this year march and 2019 was esa which had been checked 2020 and that was fine

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